Cheyenne Ligon is a CoinDesk news reporter with a focus on crypto regulation and policy. She has no significant crypto holdings.
?" contracts went live on its website Thursday, shortly after a federal judge rejected a last-minute bid from the CFTC for a two-week stay of the court’s earlier decision to allow the contracts.
“The election gambling contracts pose significant public interest risk,” the CFTC’s lead attorney said during Thursday's hearing. “The Commission noted serious concerns about potential adverse effects on election integrity, or the perception of election integrity, at a time where confidence in election integrity is incredibly low.
Yaakov Roth of Jones Day, the lead attorney for Kalshi, argued that any delay in the company being able to list the elections contracts was causing economic harm to Kalshi – and furthermore, driving business to unregulated competitors, not least of all crypto-based Polymarket, which despite being barred from doing business in the U.S. has seen
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